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What is the correct amount of taxable income

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Question - Company A reported taxable income of $73,000 for 2021. Company A later determined that purchases were overstated by $15,000 in 2021 and inventory was understated by $8,000 at the end of the year of 2021. What is the correct amount of taxable income for 2021?

A. 80,000

B. 96,000

C. 50,000

D. 66,000

Reference no: EM133116635

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